The latest trading session saw Synchronoss (SNCR) ending at $9.76, denoting a +0.83% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.43% for the day. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 0.47%.
Prior to today's trading, shares of the mobile services company had gained 2.87% over the past month. This has outpaced the Computer and Technology sector's gain of 0.32% and the S&P 500's gain of 2.6% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Synchronoss in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.10, reflecting a 111.76% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $43.64 million, up 5.41% from the prior-year quarter.
Any recent changes to analyst estimates for Synchronoss should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Synchronoss possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Synchronoss is currently exchanging hands at a Forward P/E ratio of 6.65. This valuation marks a discount compared to its industry's average Forward P/E of 30.14.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SNCR in the coming trading sessions, be sure to utilize Zacks.com.
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Synchronoss Technologies, Inc. (SNCR) : Free Stock Analysis Report
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